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Libero, I don't think you should read too much into JM's words re short covering. In the same way the reversing out of transactions has got nothing to do with transfers from one fund to another. I agree with Alfa that it may have been a reference to the Enerox deal that JM clearly thought was better than he had anticipated.
I don't think there will be any dilution without good reason. The stated intention has always been to pay for the expansion through cash generation, said again in the last interview.
My only business concern is Duferco s CLN and the current share price, although I suspect there will be news on this, or the company settles in some other way this negating the issue.
If not and there is a raise at current levels then I will be mighty pi55ed and my otherwise very high opinion if the board would be trashed. If there is a raise to refit Vanchem within 12 months to supply Eskom and other contracts sooner, that is a different matter entirely.
Gla
I think if Bushveld win a large contract then we will also see listing on JSE, of that I’m sure. I can see a bit of equity being issued to advance Vanchem upgrades and another phase of the electrolyte plant as it is only going to be initially 200mwh of the planned 1000.
Libero - he meant the Enerox deal
Btw no one replied to my question last night but why do you think John Meyer said that “I also suspect some short covering as some market makers may have been expecting an issue of new stock to pay for the Energy deal.”
The issuance of new shares does concern me somewhat because it dilutes our shareholding and typically these share issues come at a slight discount to the SP at the time. Not trying to deramp but that is playing on my mind somewhat.
possibly but in the interest of a clear and open market should they be pinned o the trade logs indicating a big sell thus affecting market sentiment??? Interesting that the apparent pairings come up today after last nights emails.
Could those 1.5million trades merely be inter MM transfers and nothing to be concerned about?
Oh and here we go. Now they’ve been forced to retrospectively buy 3,000,000 shares @ 13.375p (£401k) to cover their tracks, which are shares they presumably don’t actually have, they’ve dropped the price sharply in the hope that PIs collectively sell 3,000,000 shares to fill the order in case the FCA or LSE decide to check their books.
Their choice was to either cause people to panic sell or to raise the price to entice some real sells. So my feeling is that if people can hold tight there’s a chance they’ll have to go the other way and head to 14p again.
Any day now, or not at all. Previous Q2 results have been out by the end of July, but as has been pointed out here before, there's no obligation for Q2 results to be published at all.
Lor_9. Insulting people is hardly the way to get people to assist you.
Libero, I imagine that is exactly what will happen. Bushveld in its own jurisdiction will be seen as exactly the behemoth it is and that will force the hand of the AIM market. People want as many shares as possible before the inevitable surge and are playing as many games as possible to get them.
There is no requirement to post quarterly results. It is done by discretion and seems to be 1-2 months post quarter.
Our nomad gave a big hint to them being good and others with contacts the same. FM has twice only mentioned end of year figures at the top end of guidance range.
Relax... Gonna be ok and growing through the rest of the year...
We were expecting them on 31 July or this week so yeah maybe they’re a tad “overdue”
Inverted commas because they’re not actually something that the board have to report, they merely choose to do so.
No I’d prefer FM to focus on all the great stuff he’s already doing. He needs to keep focused on this month’s Eskom BESS tender. And then eventually just get us onto the main market / JSE.
What’s interesting is that there’s a share called BXP which is on AIM and the Bangladeshi stock exchange, and it often seems like the share price on the latter market pulls up the AIM price thereafter, sometimes after a considerable delay causing there to be quite the gap between the two. Wonder if that’s going to BMN one day when the JSE-listed price is equivalent to 50p and we’re still at 35p etc
Is anyone on this board capable of posting a sensible message and can someone tell me when Q2 production results may be due? It seems they are overdue?
Honesty feels like they (whoever they are exactly) saw my post overnight saying I emailed the FCA & LSE about that very late reported deletion of a massive £200k sell. Why else have they suddenly posted 2 equal sized buys that apparently occurred not yesterday but the day before, apparently at the exact same time as the later-deleted sell?
Absolute nonsense. Someone is scared of getting told off and so they’ve decided to build up a story as a defence. That’s what it looks like. But how they suddenly alter the trading logs from 2 days ago is beyond me.
What an awful market this is!
It is about time that FM should ask for investigation if he cares about LTH. Why always we to send letter to LSE and FCA
Alfa did the same some months ago and nothing happen, actually manipulation increased
How can it take 2 full days almost to report a trade??
That seems dodgy as hell to me. Do you think those responsible read this forum and saw I contacted the FCA, LSE, and SP Angel??
(*sells). Busy day elsewhere anyway. GLA.
Now there are 3 lines visible:
05-Aug-20 09:02:14 13.375 1,500,000 Buy* 12.50 12.75 200.63k O
05-Aug-20 09:02:14 13.375 1,500,000 Buy* 12.50 12.75 200.63k O
05-Aug-20 09:02:14 13.375 -1,500,000 Buy* 12.50 12.75 -200.63k O
Real buy(s), or to be deleted again tomorrow? ;p
See what today brings.
Thanks for sending that email to JM and sharing it with us (even though it doesn’t look like you were meant to!)
However the sentence JM says here concerns me a little - where has he heard that? Why were the MMs expecting an issuance of new shares?
“I also suspect some short covering as some market makers may have been expecting an issue of new stock to pay for the Energy deal.”
Otherwise it’s a super positive email. It sounds like JM knows the results are gonna be really good, he believes V prices will increase this year, etc, so there’s plenty of reasons for optimism.
If the 1.5m sell deletion is down as a sell we’ll have a new blue start tomorrow morning and the mood on the board will improve.
And of course if I hear back from the FCA, the London Stock Exchange, or SP Angel in response to my email I’ll obvs let you all know
Best of luck all : )
Good email and background research into the AIM rules Libero. Those who have been around for more than a couple of months will know that I have railed against this type of misrepresentation repeatedly - you may or may not have seen the complaint that we made to the FCA no 205882095 ( https://www.thebushveldperspective.com/blog/public-articles-1/post/fca-complaint-case-ref-205882095-422 ) - so only 2 billion complaints ahead of us in the queue !
That, YTSS is a fascinating email.
Big hint from Meyer about the results methinks and possible news?? Funding expectations also interesting and may explain a lot.
That, YTSS is a fascinating email.
Big hint from Meyer about the results methinks and possible news??
I'm waiting for Alfa's opinion on this one as I think he has a better understanding than many CEO's and analysts.
Reply from John Meyer
Thank you for your email
Others have also spotted this so you are not alone watching the trades and we are looking into it
I suspect these trades are movements within funds but with no effective change of ownership as often happens
They don’t sound like CFD trades
I also suspect some short covering as some market makers may have been expecting an issue of new stock to pay for the Energy deal.
Fortune has renegotiated yet another brilliant deal with Cell Cube and Enerox and am very pleased to see this
We should get the Q2/H1 results next week. It would be tempting fate to make any further comment but I believe the principal of investing in good management should win through in a difficult environment.
Am also confident the Chines will need to import more vanadium lifting vanadium prices sometime in the next few months.
John
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